Q:

What happens after probate is granted?

A:

Quick Answer

When probate is granted the deceased's chosen executor or the court-appointed administrator begins the process of paying off debts and distributing assets, according to FindLaw. If there is property not directly bequeathed to anyone, it is sold, and the funds become part of the estate.

Continue Reading

Full Answer

During the probate process the court officially appoints an executor or administrator for the will. If the decedent died without a will, the court chooses and appoints an administrator. If the decedent had a will in place, the court names the individual designated as executor, according to Bay Financial Associates.

After that appointment the executor or administrator has the responsibility of making sure all debts and taxes are promptly paid by the estate and that all assets are distributed to the named beneficiaries. Before probate is granted the individual who is chosen as executor or administrator has an opportunity to decline the appointment if he wants, indicates FindLaw.

During the probate process the named executor or administrator needs to open up a checking account to be used exclusively for the estate. Estate money and personal money cannot be mixed. Additionally the executor or administrator needs to continue to make payments on any accounts that must remain open until the estate's dissolution is final.

Learn more about Law

Related Questions

Explore